Iranian tanker caught in a standoff with the West heads to Greece, shipping data shows

A crew member checks the new name of Iranian oil tanker Adrian Darya, formerly known as Grace 1, off the coast of Gibraltar on August 18, 2019. The Iranian tanker caught in a standoff between Tehran and the West was sailing to Greece on Monday after leaving Gibraltar, shipping data showed, hours after the British territory rejected a U.S. request to detain the vessel further. That led to heightened tensions on international oil shipping routes through the Gulf. Refinitiv ship tracking data showe


A crew member checks the new name of Iranian oil tanker Adrian Darya, formerly known as Grace 1, off the coast of Gibraltar on August 18, 2019. The Iranian tanker caught in a standoff between Tehran and the West was sailing to Greece on Monday after leaving Gibraltar, shipping data showed, hours after the British territory rejected a U.S. request to detain the vessel further. That led to heightened tensions on international oil shipping routes through the Gulf. Refinitiv ship tracking data showe
Iranian tanker caught in a standoff with the West heads to Greece, shipping data shows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: reuters with cnbccom
Keywords: news, cnbc, companies, shipping, iranian, issue, grace, oil, heads, tanker, greece, showed, gibraltar, west, vessel, request, standoff, data, caught, shows


Iranian tanker caught in a standoff with the West heads to Greece, shipping data shows

A crew member checks the new name of Iranian oil tanker Adrian Darya, formerly known as Grace 1, off the coast of Gibraltar on August 18, 2019.

The Iranian tanker caught in a standoff between Tehran and the West was sailing to Greece on Monday after leaving Gibraltar, shipping data showed, hours after the British territory rejected a U.S. request to detain the vessel further.

British Royal Marines seized the tanker near Gibraltar in July on suspicion it was carrying oil to Syria, a close ally of Iran, in violation of European Union sanctions. That led to heightened tensions on international oil shipping routes through the Gulf.

The Grace 1, renamed the Adrian Darya 1, left anchorage off Gibraltar around 11 p.m. (2100 GMT). Refinitiv ship tracking data showed early on Monday that the vessel was heading to Kalamata in Greece.

The tanker’s detention ended last week, but a federal court in Washington on Friday issued a warrant for the seizure of the tanker, the oil it carries and nearly $1 million.

Gibraltar said on Sunday it could not comply with that request because it was bound by EU law.

“Gibraltar considers the United States as a key ally. Nobody must think that we have sided with a foe and let down a friend,” Fabian Picardo, chief minister of Gibraltar, told CNBC’S “Squawk Box Europe” on Monday.

“This became, in its last throes, not a political issue but a legal issue,” he added.


Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: reuters with cnbccom
Keywords: news, cnbc, companies, shipping, iranian, issue, grace, oil, heads, tanker, greece, showed, gibraltar, west, vessel, request, standoff, data, caught, shows


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Saudi Aramco’s first-half net income falls 12% to $47 billion

An Aramco oil tank is seen at the Production facility at Saudi Aramco’s Shaybah oilfield in the Empty Quarter, Saudi Arabia. Saudi Aramco, the world’s top oil producer, reported first-half net income of $46.9 billion on Monday, down from $53.02 billion a year earlier. By comparison, Apple Inc, the world’s most profitable listed company, made $31.5 billion in the first six months of its financial year. In its earnings report, Aramco partly attributed the decline in net income to a 4% fall in the


An Aramco oil tank is seen at the Production facility at Saudi Aramco’s Shaybah oilfield in the Empty Quarter, Saudi Arabia. Saudi Aramco, the world’s top oil producer, reported first-half net income of $46.9 billion on Monday, down from $53.02 billion a year earlier. By comparison, Apple Inc, the world’s most profitable listed company, made $31.5 billion in the first six months of its financial year. In its earnings report, Aramco partly attributed the decline in net income to a 4% fall in the
Saudi Aramco’s first-half net income falls 12% to $47 billion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: reuters with cnbccom
Keywords: news, cnbc, companies, saudi, income, company, 47, worlds, billion, 12, nasser, net, aramcos, firsthalf, aramco, crude, falls, oil


Saudi Aramco's first-half net income falls 12% to $47 billion

An Aramco oil tank is seen at the Production facility at Saudi Aramco’s Shaybah oilfield in the Empty Quarter, Saudi Arabia.

Saudi Aramco, the world’s top oil producer, reported first-half net income of $46.9 billion on Monday, down from $53.02 billion a year earlier.

By comparison, Apple Inc, the world’s most profitable listed company, made $31.5 billion in the first six months of its financial year.

Aramco said total revenues including other income related to sales were at $163.88 billion in the first half of this year, down from $167.68 billion a year earlier, on lower oil prices and reduced production.

In its earnings report, Aramco partly attributed the decline in net income to a 4% fall in the average realized price of crude oil compared to the same period in 2018, from $69 to $66 per barrel.

Aramco President and CEO Amin Nasser said the company had continued to deliver on its “downstream growth strategy” through acquisitions both domestically and in international markets.

“These acquisitions are expected to enhance dedicated crude placement, increase refining and chemicals capacity, capture value from integration and diversify our operations,” Nasser said.


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: reuters with cnbccom
Keywords: news, cnbc, companies, saudi, income, company, 47, worlds, billion, 12, nasser, net, aramcos, firsthalf, aramco, crude, falls, oil


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BNP Paribas’ second-quarter profits buoyed by corporate and investment banking arm

BNP Paribas, France’s largest bank in terms of assets, on Wednesday said that a strong performance by its corporate and investment banking division had buoyed its profits during the second quarter. Net profit during the quarter rose 3.1% to 2.47 billion euros ($2.8 billion) out of 11.22 billion euros in revenues. The bank attributed its performance to strong growth at its corporate and investment banking unit, which saw its overall revenue during the quarter rise 4% to 3.1 billion euros. Favorab


BNP Paribas, France’s largest bank in terms of assets, on Wednesday said that a strong performance by its corporate and investment banking division had buoyed its profits during the second quarter. Net profit during the quarter rose 3.1% to 2.47 billion euros ($2.8 billion) out of 11.22 billion euros in revenues. The bank attributed its performance to strong growth at its corporate and investment banking unit, which saw its overall revenue during the quarter rise 4% to 3.1 billion euros. Favorab
BNP Paribas’ second-quarter profits buoyed by corporate and investment banking arm Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-31  Authors: reuters with cnbccom
Keywords: news, cnbc, companies, billion, quarter, performance, banking, secondquarter, strong, euros, corporate, profits, buoyed, bnp, investment, arm, paribas


BNP Paribas' second-quarter profits buoyed by corporate and investment banking arm

BNP Paribas, France’s largest bank in terms of assets, on Wednesday said that a strong performance by its corporate and investment banking division had buoyed its profits during the second quarter.

Net profit during the quarter rose 3.1% to 2.47 billion euros ($2.8 billion) out of 11.22 billion euros in revenues.

The bank attributed its performance to strong growth at its corporate and investment banking unit, which saw its overall revenue during the quarter rise 4% to 3.1 billion euros.

Favorable market conditions as well as the first effects of a 350 million euro cost-cutting plan launched in February beefed up the unit’s profitability, said BNP Paribas.


Company: cnbc, Activity: cnbc, Date: 2019-07-31  Authors: reuters with cnbccom
Keywords: news, cnbc, companies, billion, quarter, performance, banking, secondquarter, strong, euros, corporate, profits, buoyed, bnp, investment, arm, paribas


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Renault cuts revenue goal after weaker first half

A view of the display of Renault at the Automobile Trade Fair 2019 in Barcelona, May 11, 2019. Renault warned that revenue may decline this year, scrapping a previous goal, after first-half profit was hit by weakening car demand and an earnings collapse at alliance partner Nissan in the wake of the Carlos Ghosn scandal. Net income slumped by more than half to 970 million euros ($1.08 billion) in January-June as revenue fell 6.4% to 28.05 billion euros, the French carmaker said on Friday. “Given


A view of the display of Renault at the Automobile Trade Fair 2019 in Barcelona, May 11, 2019. Renault warned that revenue may decline this year, scrapping a previous goal, after first-half profit was hit by weakening car demand and an earnings collapse at alliance partner Nissan in the wake of the Carlos Ghosn scandal. Net income slumped by more than half to 970 million euros ($1.08 billion) in January-June as revenue fell 6.4% to 28.05 billion euros, the French carmaker said on Friday. “Given
Renault cuts revenue goal after weaker first half Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-26  Authors: reuters with cnbccom
Keywords: news, cnbc, companies, partner, group, nissan, revenue, half, weaker, earnings, billion, performance, profit, cuts, renault, alliance, goal


Renault cuts revenue goal after weaker first half

A view of the display of Renault at the Automobile Trade Fair 2019 in Barcelona, May 11, 2019.

Renault warned that revenue may decline this year, scrapping a previous goal, after first-half profit was hit by weakening car demand and an earnings collapse at alliance partner Nissan in the wake of the Carlos Ghosn scandal.

Net income slumped by more than half to 970 million euros ($1.08 billion) in January-June as revenue fell 6.4% to 28.05 billion euros, the French carmaker said on Friday. Operating profit also dropped 13.6% to 1.654 billion euros.

“Given the degradation in demand, the group now expects 2019 revenues to be close to last year’s,” Renault predicted – abandoning an earlier pledge to increase revenue before currency effects.

A broad-based downturn has rattled the sector, prompting profit warnings and compounding challenges for Renault and Nissan as they struggle to turn the page on the Ghosn era. Their former alliance boss is now awaiting trial in Japan on financial misconduct he denies.

Renault’s bottom line was hit by an 826 million-euro drop in earnings from its 43.4%-owned alliance partner. Nissan is cutting 12,500 jobs globally after an earnings collapse that it is keen to blame on Ghosn’s leadership.

But Renault’s own performance – reflected an operating margin that declined to 5.9% from 6.4% – contrasts less favorably with domestic rival PSA Group. The Peugeot maker defied the downturn with a record 8.7% profit margin unveiled on Wednesday.

“In a tougher than expected environment, the Group stayed its course and achieved a level of performance in line with its expectations for the first part of the year,” Thierry Bollore, CEO of Renault, said in a press statement.

“The launches of many new models, enhanced competitiveness and the teams’ fighting spirit allow the Group to confirm its profitability objectives for the full year,” he added.


Company: cnbc, Activity: cnbc, Date: 2019-07-26  Authors: reuters with cnbccom
Keywords: news, cnbc, companies, partner, group, nissan, revenue, half, weaker, earnings, billion, performance, profit, cuts, renault, alliance, goal


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Erdogan suffers setback in Turkey elections, losing Ankara while Istanbul is still disputed

Turkey’s Tayyip Erdogan suffered a severe setback as his ruling AK Party lost control of the capital Ankara for the first time in a local election and he appeared to concede defeat in the country’s largest city, Istanbul. On Monday morning it quickly plummeted at roughly 8:30 a.m London time after the country’s election board said the opposition party was ahead in Istanbul’s mayoral election, briefly trading at $5.6913. Defeat for Erdogan’s Islamist-rooted party in Ankara was a significant blow


Turkey’s Tayyip Erdogan suffered a severe setback as his ruling AK Party lost control of the capital Ankara for the first time in a local election and he appeared to concede defeat in the country’s largest city, Istanbul. On Monday morning it quickly plummeted at roughly 8:30 a.m London time after the country’s election board said the opposition party was ahead in Istanbul’s mayoral election, briefly trading at $5.6913. Defeat for Erdogan’s Islamist-rooted party in Ankara was a significant blow
Erdogan suffers setback in Turkey elections, losing Ankara while Istanbul is still disputed Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-31  Authors: reuters with cnbccom
Keywords: news, cnbc, companies, turkeys, losing, turkey, opposition, erdogan, ak, suffers, elections, election, ankara, istanbul, party, chp, setback, votes, countrys, disputed


Erdogan suffers setback in Turkey elections, losing Ankara while Istanbul is still disputed

Turkey’s Tayyip Erdogan suffered a severe setback as his ruling AK Party lost control of the capital Ankara for the first time in a local election and he appeared to concede defeat in the country’s largest city, Istanbul.

Erdogan, who has dominated Turkish politics since coming to power 16 years ago and ruled his country with an ever tighter grip, campaigned relentlessly for two months ahead of Sunday’s vote, which he described as a “matter of survival” for Turkey.

But the president’s daily rallies and overwhelmingly supportive media coverage failed to win over the country’s capital or secure a definitive result in Istanbul, as Turkey’s economic downturn weighed heavily on voters.

Turkish broadcasters said opposition Republican People’s Party (CHP) candidate Mansur Yavas had won a clear victory in Ankara, but the vote count in Istanbul was so tight that both parties declared the narrowest of victories.

“The people have voted in favor of democracy, they have chosen democracy,” opposition leader Kemal Kilicdaroglu said, declaring that his secularist Republican People’s Party (CHP) had taken Ankara and Istanbul from the AK Party and held its Aegean coastal stronghold of Izmir, Turkey’s third largest city.

The lira traded at 5.61 to the dollar after initial results came in, compared with 5.55 at Friday’s close and 5.65 in U.S. trading hours later on Friday. On Monday morning it quickly plummeted at roughly 8:30 a.m London time after the country’s election board said the opposition party was ahead in Istanbul’s mayoral election, briefly trading at $5.6913.

Defeat for Erdogan’s Islamist-rooted party in Ankara was a significant blow for the president. Losing Istanbul, where he launched his political career and served as mayor in the 1990s, would be an even greater symbolic shock and a broader sign of dwindling support.

State-owned Anadolu Agency said the AKP would appeal in some districts of the capital.

In Istanbul, the AK Party said former Prime Minister Binali Yildirim defeated his CHP rival Ekrem Imamoglu by a mere 4,000 votes — with both candidates polling more than 4 million votes. Imamoglu said he had a lead of 28,000 with only 2,000 votes uncounted.

In a speech to supporters in Ankara, Erdogan appeared to accept AKP defeat in Istanbul, although he maintained that most neighborhoods in the city were held by his party. “Even if our people gave away the mayorship, they gave the districts to the AK Party,” he said.

The party would appeal results wherever needed, he added.


Company: cnbc, Activity: cnbc, Date: 2019-03-31  Authors: reuters with cnbccom
Keywords: news, cnbc, companies, turkeys, losing, turkey, opposition, erdogan, ak, suffers, elections, election, ankara, istanbul, party, chp, setback, votes, countrys, disputed


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Town halls across Germany evacuated after threats: Police

Town halls in several German cities were evacuated on Tuesday after threats, in some cases bomb threats, were received by email overnight, a number of police forces said. “A threat against the city of Augsburg has been received, the town hall has been cleared, we are investigating,” tweeted police in the southern city of Augsburg. Police officials in the city of Goettingen also told NBC News that they had received an email claiming that an explosive device had been planted at the town hall. In C


Town halls in several German cities were evacuated on Tuesday after threats, in some cases bomb threats, were received by email overnight, a number of police forces said. “A threat against the city of Augsburg has been received, the town hall has been cleared, we are investigating,” tweeted police in the southern city of Augsburg. Police officials in the city of Goettingen also told NBC News that they had received an email claiming that an explosive device had been planted at the town hall. In C
Town halls across Germany evacuated after threats: Police Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-26  Authors: reuters with cnbccom, photographer, collection, getty images
Keywords: news, cnbc, companies, city, town, halls, threats, email, told, spokesman, evacuated, nbc, hall, germany, building, received


Town halls across Germany evacuated after threats: Police

Town halls in several German cities were evacuated on Tuesday after threats, in some cases bomb threats, were received by email overnight, a number of police forces said.

“A threat against the city of Augsburg has been received, the town hall has been cleared, we are investigating,” tweeted police in the southern city of Augsburg.

Speaking to NBC News, a police spokesman in Augsburg said the email is “analogue to those received” in other cities, as the “content of the mail is identical.”

Police posted similar tweets from western Neunkirchen and Kaiserslautern, eastern Chemnitz and central Goettingen.

Police in the southwestern city of Kaiserslautern told NBC News that an employee of the city hall found an email in the “general email box” this morning at 8:00 a.m. local time, in which an unidentified sender had claimed that “an explosive device had been deposited in the building.”

Police immediately decided to evacuate the 21-story high-rise building and are presently searching the premises.

Police officials in the city of Goettingen also told NBC News that they had received an email claiming that an explosive device had been planted at the town hall. The building has been evacuated and the surrounding streets have been cordoned off.

“We are now trying to identify, who sent these emails and are coordinating our investigation with officials in other German cities, which also received these threats,” a spokesperson told NBC News.

In Chemnitz, a police spokeswoman said that the search of the multi-story town hall building is ongoing.

A police spokesman in the northern German city of Rendsburg also confirmed to NBC News that the local town hall was evacuated this morning, a building search with experts is ongoing. A similar statement was made by a police spokesman in Neunkirchen in the state of Saarland.


Company: cnbc, Activity: cnbc, Date: 2019-03-26  Authors: reuters with cnbccom, photographer, collection, getty images
Keywords: news, cnbc, companies, city, town, halls, threats, email, told, spokesman, evacuated, nbc, hall, germany, building, received


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High labor costs eat into JD Wetherspoon’s profit

British pubs group JD Wetherspoon Plc posted an 18.9 percent fall in first-half pretax profit on Friday, hit by high labor costs. The company, like most restaurant chains in the country, has been battling high staff costs, property prices and power bills as well as a move away from pub drinking by younger Britons. The FTSE 250, which relies heavily on alcohol sales at its restaurants, said on Friday labour costs increased by about 33 million pounds, accounting for the biggest chunk of overall co


British pubs group JD Wetherspoon Plc posted an 18.9 percent fall in first-half pretax profit on Friday, hit by high labor costs. The company, like most restaurant chains in the country, has been battling high staff costs, property prices and power bills as well as a move away from pub drinking by younger Britons. The FTSE 250, which relies heavily on alcohol sales at its restaurants, said on Friday labour costs increased by about 33 million pounds, accounting for the biggest chunk of overall co
High labor costs eat into JD Wetherspoon’s profit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: reuters with cnbccom, robert alexander, getty images
Keywords: news, cnbc, companies, younger, profit, pubs, rose, sales, increased, labor, jd, eat, company, wetherspoons, likeforlike, costs, weeks, high


High labor costs eat into JD Wetherspoon's profit

British pubs group JD Wetherspoon Plc posted an 18.9 percent fall in first-half pretax profit on Friday, hit by high labor costs.

The company, like most restaurant chains in the country, has been battling high staff costs, property prices and power bills as well as a move away from pub drinking by younger Britons.

The FTSE 250, which relies heavily on alcohol sales at its restaurants, said on Friday labour costs increased by about 33 million pounds, accounting for the biggest chunk of overall costs.

It expects results for the current financial year to remain unchanged.

The company said like-for-like sales rose 9.6 percent in the six weeks to March 10, helped by good weather this year, while total sales increased 10.9 percent.

The owner and operator of more than 900 pubs in UK and Ireland said like-for-like sales rose 6.3 percent in the 26 weeks to January 27.


Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: reuters with cnbccom, robert alexander, getty images
Keywords: news, cnbc, companies, younger, profit, pubs, rose, sales, increased, labor, jd, eat, company, wetherspoons, likeforlike, costs, weeks, high


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Generali beats 2018 targets despite ‘challenging’ Italian market, raises dividend

“But when people do not invest because the economy is not growing, the life insurance business and asset management is growing.” Donnet also claimed that Generali’s 59 billion euros in Italian BTPs was not a concern to investors. Generali has reserved up to 4 billion euros for acquisitions and growth as it looks to asset management and high-margin business in Latin America and Asia. Clarification: This story has been updated to reflect that Donnet claimed that Generali’s 59 billion euros in Ital


“But when people do not invest because the economy is not growing, the life insurance business and asset management is growing.” Donnet also claimed that Generali’s 59 billion euros in Italian BTPs was not a concern to investors. Generali has reserved up to 4 billion euros for acquisitions and growth as it looks to asset management and high-margin business in Latin America and Asia. Clarification: This story has been updated to reflect that Donnet claimed that Generali’s 59 billion euros in Ital
Generali beats 2018 targets despite ‘challenging’ Italian market, raises dividend Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: reuters with cnbccom, pier marco tacca, getty images
Keywords: news, cnbc, companies, management, euros, despite, 2018, generalis, growing, targets, dividend, billion, market, business, beats, reflect, raises, generali, challenging, btps, economy, italian


Generali beats 2018 targets despite 'challenging' Italian market, raises dividend

Europe’s third-largest insurer said it would pay a dividend of 0.90 euros per share, up from the previous year’s 0.85 euros.

When it came to a potential European slowdown in 2019, however, Donnet said Generali was not concerned. He explained that people sought out the solutions Generali provided whether the economy was booming or lagging.

“Our business is very resilient, because when people do invest and the economy is growing, the property and casualty business is growing,” he said. “But when people do not invest because the economy is not growing, the life insurance business and asset management is growing.”

However he noted heavy competition in its domestic market, especially with motor insurance, adding that it was “challenging.”

“In Italy and France, by the way, we had to face very important claims … which obviously had a significant impact on the operating result,” he added.

Donnet also claimed that Generali’s 59 billion euros in Italian BTPs was not a concern to investors.

“(Investors) do not struggle any more on this — we have demonstrated that we have a strong capital position. We have further increased our solvency ratio by 9 percentage points, so our exposure to BTPs is no longer an issue,” he told CNBC.

Generali has reserved up to 4 billion euros for acquisitions and growth as it looks to asset management and high-margin business in Latin America and Asia.

Clarification: This story has been updated to reflect that Donnet claimed that Generali’s 59 billion euros in Italian BTPs was not a concern to investors. The headline has also been changed on this story to more accurately reflect Generali’s earnings release.


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: reuters with cnbccom, pier marco tacca, getty images
Keywords: news, cnbc, companies, management, euros, despite, 2018, generalis, growing, targets, dividend, billion, market, business, beats, reflect, raises, generali, challenging, btps, economy, italian


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Legal & General 2018 operating profit rises 10%

UK and US should drop quarterly reports, Legal & General CEO says 4 Hours Ago | 06:38Britain’s third-largest insurer Legal & General posted a 10 percent rise in operating profit to 1.9 billion pounds ($2.5 billion) in 2018, helped by record sales of annuities, it said on Wednesday. The bulk annuity market is expected to reach record levels this year, with some analysts estimating sales of 30 billion pounds. Nigel Wilson, chief executive of Legal & General, told CNBC Wednesday that reaching that


UK and US should drop quarterly reports, Legal & General CEO says 4 Hours Ago | 06:38Britain’s third-largest insurer Legal & General posted a 10 percent rise in operating profit to 1.9 billion pounds ($2.5 billion) in 2018, helped by record sales of annuities, it said on Wednesday. The bulk annuity market is expected to reach record levels this year, with some analysts estimating sales of 30 billion pounds. Nigel Wilson, chief executive of Legal & General, told CNBC Wednesday that reaching that
Legal & General 2018 operating profit rises 10% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: reuters with cnbccom
Keywords: news, cnbc, companies, billion, pounds, consistency, operating, 2018, profit, management, rises, general, bulk, legal, market, told


Legal & General 2018 operating profit rises 10%

UK and US should drop quarterly reports, Legal & General CEO says 4 Hours Ago | 06:38

Britain’s third-largest insurer Legal & General posted a 10 percent rise in operating profit to 1.9 billion pounds ($2.5 billion) in 2018, helped by record sales of annuities, it said on Wednesday.

L&G sold 10 billion pounds of annuities, most of them through the bulk annuity market, in which companies offload the risk to insurers of their defined benefit, or final salary, pension schemes.

The bulk annuity market is expected to reach record levels this year, with some analysts estimating sales of 30 billion pounds.

Nigel Wilson, chief executive of Legal & General, told CNBC Wednesday that reaching that number was a “wonderful achievement.”

“One of the key things is that became the U.K.’s first trillion pound asset management business which is a wonderful achievement by my colleagues,” he told CNBC’s “Squawk Box Europe.”

“And it’s about consistency, consistency of strategy, consistency of delivery. Pretty much for the last 10 years we’ve been averaging 10 percent growth in operating profit and earnings per share and a 22.7 percent return on equity is hardly shabby in these very difficult low interest rate environments,” he said, “I’m really pleased overall with the results.”

Chief financial officer Jeff Davies told a media call that the firm has “a good outlook for 2019 across annuities and asset management.”

The firm was actively quoting on around 20 billion pounds in bulk annuity deals, he added.

Legal & General Investment Management, one of the biggest investors in the U.K. stock market, saw a three percent rise in assets under management to 1 trillion pounds.

The profit numbers, in line with company-supplied consensus forecasts, exclude the release of longevity reserves made possible by a slowdown in life expectancy improvements, the life insurer said in a statement.

The company said it would pay a total dividend of 16.42 pence, up seven percent and in line with forecasts.


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: reuters with cnbccom
Keywords: news, cnbc, companies, billion, pounds, consistency, operating, 2018, profit, management, rises, general, bulk, legal, market, told


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Iran’s Zarif accuses Israel, US of seeking war

Zarif said the U.S. had an “unhealthy” and “pathological obsession” with Iran and accused Pence of trying to bully his allies. “Look at the map, the U.S. military has traveled 10,000 kilometers to dot all our borders with its bases. But diplomats say it is unlikely to allow the big transactions that Tehran says it needs to keep a nuclear deal afloat. “INSTEX falls short of commitments by the E3 (France, Germany, Britain) to save the nuclear deal,” Zarif said. But still, the defense contractors s


Zarif said the U.S. had an “unhealthy” and “pathological obsession” with Iran and accused Pence of trying to bully his allies. “Look at the map, the U.S. military has traveled 10,000 kilometers to dot all our borders with its bases. But diplomats say it is unlikely to allow the big transactions that Tehran says it needs to keep a nuclear deal afloat. “INSTEX falls short of commitments by the E3 (France, Germany, Britain) to save the nuclear deal,” Zarif said. But still, the defense contractors s
Iran’s Zarif accuses Israel, US of seeking war Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-17  Authors: reuters with cnbccom, getty images
Keywords: news, cnbc, companies, trade, israel, zarif, nuclear, tehran, world, deal, sanctions, trying, accuses, accused, iran, seeking, war, irans


Iran's Zarif accuses Israel, US of seeking war

Vice-President Pence on Friday accused Iran of Nazi-like anti-Semitism, maintaining his harsh rhetoric against Tehran just a day he attacked European powers for trying to undermine U.S. sanctions on the Islamic Republic.

Zarif said the U.S. had an “unhealthy” and “pathological obsession” with Iran and accused Pence of trying to bully his allies.

“All in the name of containing Iran, the U.S. claims, and some blindly parrot, that it is Iran that is interfering in the region, but has it been asked whose region?” Zarif said.

“Look at the map, the U.S. military has traveled 10,000 kilometers to dot all our borders with its bases. There is a joke that it is Iran that put itself in the middle of U.S. bases.”

Zarif, who said Iran was committed to the 2015 nuclear deal with world powers for now, also accused France, Britain and Germany of not doing enough to ensure Tehran received the economic benefits of that accord.

These three countries this month set up the Instrument In Support Of Trade Exchanges (INSTEX), a new channel for non-dollar trade with Iran to avoid U.S. sanctions. But diplomats say it is unlikely to allow the big transactions that Tehran says it needs to keep a nuclear deal afloat.

Washington’s major European allies opposed last year’s decision by U.S. President Donald Trump to abandon the deal, which also includes China and Russia, under which international sanctions on Iran were lifted in return for Tehran accepting curbs on its nuclear program.

“INSTEX falls short of commitments by the E3 (France, Germany, Britain) to save the nuclear deal,” Zarif said. “Europe needs to be willing to get wet if it wants to swim against the dangerous tide of U.S. unilateralism.”

Also speaking at the Munich Security Conference, Saudi Arabian Prince Turki Al-Faisal suggested the foreign minister’s words were hypocritical when looking at what Iran is doing in the region.

“They have to reform their conduct before people can accept them as positive players in the world,” he told CNBC’s Hadley Gamble.

Meanwhile, Ian Bremmer, the president and founder of Eurasia Group, believes there is an arms race going on in the region.

“I mean the Saudis of course are spending the most on their defense but the UAE (United Arab Emirates) is ramping up as well, the Iranians are ramping up. It’s going to be more challenging (for Iran) with the recession they are having this year. But still, the defense contractors should be happy in this environment, that’s true all over the world,” he told CNBC in Munich.


Company: cnbc, Activity: cnbc, Date: 2019-02-17  Authors: reuters with cnbccom, getty images
Keywords: news, cnbc, companies, trade, israel, zarif, nuclear, tehran, world, deal, sanctions, trying, accuses, accused, iran, seeking, war, irans


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